Welcome Finance PPI.....Aaaaarrrrrhhh!!

Oh the dreaded Welcome Finance again. I took out a loan with them a few years ago and they are hands down the most corrupt organisation to ever exist.
I knew something was seriously wrong when I found that my payments were never going down - the payments were constantly increasing due to the interest that was slapped on every month.

I ended up getting so pis*ed of with Welcome especially as they were asking me to increase my payment offer to them or it would go to court. I immediately went through the contract and noticed that they had mis-sold me PPI and medicare, and then I remembered that I specifically told the guy a few years back that I did not want the PPI/medicare, and he said that I wouldn't be offered the loan otherwise.

I eventually got on the phone to the branch manager and really let him have it - Told him I was going to get in contact with a Financial Ombudsman. Asked him how much the entire loan stood at and he started waffling that it was over £1200. Told him that for a £500 loan that I took out 3 years ago and that I paid over £1000 within that time, how he got the figure of £1200 extra, and said that I was def mis-sold PPI/medicare. He tried to make light of it, and that was it. Told him exactly what I thought of Welcome, and said to him that my aunt had recently given me £400. Told him that it would be in his best interest to take the £400 while he can, or the money would be used to pay of another debt, and he would have to continue getting less payment from me per month.

Well he could see that I meant business and he decided to take the money :-) I made sure that he wrote a letter to me saying that he was accepting payment and that would be the end of any dealings with Welcome.

If I were you I tell your girlfriend stick to her guns, and not let Welcome tell her any nonsense. They are obviously trying to call her bluff, and it doesn't help that you are involving yourself as a 3rd party. Tell her to get the ball rolling, if they are still playing hard ball then best thing to do is just go for a Full and final settlement and get them permanently out of her hair. See whether they have also slapped a whole lot of charges on her account

Good luck

fto loyal

you will get away with the £400 - trust me
and they have had to pay on on many PPI claims previously

put it in writing and send a copy to the branch manager and a copy to their head office in nottingham and make sure you send both recorded delivery, threaten fsa, fo etc. and i assure you they will reply to you and cancel the ppi

graham01623 wrote: »

Hi, First time I have posted.
I have a personal loan and car loan with Welcome, I will be trying to claim back the PPI missold to me also the charges they have applied to the accounts for the phone calls and letters etc
My question is, how do I stand if I stop paying them while they sort out any refund of the accounts?
I think off the top of my head the car loan has approx £800 left to pay and the loan approx £2500.
Well that is according to me if they work it out it will be a lot more no doubt.
How do we fight it if they just say it is vaild? I have read the posts and think I understand the letter and resasonable length of time to respond, what action can we take if they do not resond with the correct information requested?
If they cannot provide the original copy of the agreement does that mean the agreement is void?
I was a little worried but after reading these posts and realised they seem to be a bunch of crooks, it looks like I will have a fight on my hands.
I would be greatful for any comments.
Thanks

Graham

Hi Graham

I see you found your way to the PPI thread.;)

fto_loyal wrote: »

A few years ago my girlfriend took out a loan with Unwelcome Finance. I'm looking at getting a 0% balance transfer credit card and paying off the loan which will allow her to be debt free 4 months early.

I spoke to Unwelcome Finance as I was querying they're stupidly unrealistic settlement figure. Anyway, my girlfriend was mis-sold PPI as she thought she had to have it, she wasn't given a choice. I threatened Unwelcome Finance with FSA, Financial Ombudsman etc and he said 'our PPI is totally above board and legal and they have never had to pay out as a result of this'.

Has anyone ever tried to get PPI refunded from Welcome Finance? If so, how did you get on? Any stories and advice would be very welcome.

Thanks in advance.

Hi there

Please check on the above post I posted in regards of PPI, the link to the thread there as well, there have been many who have reclaimed - Welcome finance.;)